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keel
Ledger
64,753,388
Methodology
1.0.8-draft
Age
4s

FRED against USDC — what depth stands behind this price?

All assets

FRED / USDC

GCA7…ZLV6

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
0.000051 USDC (shortened; full value 0.0000514500035902170766125 USDC)Limited by manipulation cost
Depth within 5%
buy23.84 USDC (shortened; full value 23.8448939032501463232324635815 USDC)sell24.30 USDC (shortened; full value 24.302386130959878081151546641835350091089898809846 USDC)
Cost to move +50%
0.00020 USDC (shortened; full value 0.00020580001436086830645 USDC)Reachable through the order book
Checks
5 triggered3 not evaluated

Buy-side depth

What an order can absorb before the price moves against a buyer. The rungs are nested, so one scale covers all three.

Lower at the end of the window than at its start

Lowest
9.58 USDC (shortened; full value 9.5892818397339956498377238325 USDC)
Highest
47.06 USDC (shortened; full value 47.0619563870441939255018297713 USDC)
2026-10-02T23:53:42Z — 2026-10-03T18:23:37ZOne scale across every line on this chart
2% from mid
9.58 USDC (shortened; full value 9.5892818397339956498377238325 USDC)
5% from mid
23.79 USDC (shortened; full value 23.7986228051096351997366058384 USDC)
10% from mid
47.03 USDC (shortened; full value 47.0370424906209665641232237182 USDC)
2 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Cheap next to real tradingnowMANIPULATION_RATIO_LOWthroughout
Price sources disagreenowPRICE_SOURCE_CONFLICTthroughout
Extreme spreadnowSPREAD_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout

Not evaluated3

  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

Concentration and wash trading bound how much of the depth is real.

Largest holder
8.9292 % (shortened; full value 8.92927747824060233145264629 %)
Top ten holders
29.7696 % (shortened; full value 29.76965874928080078847100044 %)
Concentration index
179.00 (shortened; full value 179.0080027800654021435390231873806513865915616781953607)

Herfindahl–Hirschman, over the holder distribution

Volume excluded as not genuine
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Volume to supply, 30 day
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used

Last genuine trade
not computed

the newest trade reading is anchored more than 48h0m0s ago, so it was not used